Strive Buys 6,182 Bitcoin, Pushing Total Holdings to 43,000 BTC

Corporate Hierarchy Shift

This strategy allowed Strive, listed on Nasdaq and co-founded by Vivek Ramaswamy, to surpass MARA Holdings this month. Strive now ranks fourth among publicly traded companies holding Bitcoin. The capital for these purchases came from a $630 million preferred stock offering under the ticker SATS.

Strive executed three major purchases this month. The first tranche added 3,311 coins for about $280 million. The average price was $84,500 per coin. The second purchase added 2,822 coins for $235 million. This brought the total to 35,595 BTC, narrowly exceeding MARA. The final tranche added 1,223 coins for approximately $100 million. This moved Strive to fourth place behind Strategy, Metaplanet, and Twenty One Capital.

Three Tranches Reshaped the Ranking

On October 20, Strive CEO Matt Cole posted on X: „Strive has acquired 6,182 BTC for $511.4 million, at an average cost of $82,732 per Bitcoin, bringing total holdings to 43,000 coins.”

Strive’s buying power did not appear from nowhere. Warrant exercises on October 12-13 generated about $369 million in expected gross proceeds. The company priced a Series A perpetual preferred stock offering. These SATS shares offer a fixed 15% annual dividend on a $100 par value. With shares offered at $90, the effective annual yield exceeded 16%.

$630 Million Preferred Stock Offering

Unlike firms relying on convertible debt, Strive emphasized a debt-free balance sheet. It is financed through equity and preferred securities. Existing ASST shareholders face dilution. Preferred dividends create ongoing financial obligations.

Goal: Second Place by 2026

With Bitcoin trading near $80,000, Strive’s 43,000 coins are worth about $3.45 billion. The company pivoted in 2025 toward a Bitcoin treasury. The Semler Scientific acquisition added about 5,048 coins. CEO Matt Cole aims to finish 2026 as the second-largest public corporate Bitcoin holder. This requires acquiring thousands more coins. The strategy focuses on increasing Bitcoin per share without letting dilution erase the benefits.

With fresh capital from preferred stock available and Bitcoin prices in retreat, Strive faces a key question. Can it climb the corporate ranking without leaving shareholders with a rising bill? Bitcoin price is struggling to recover toward $81,000. The technical picture remains a battle between determined buyers and sellers.